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Offer in Compromise

dealing with the IRS

Offer in compromise
If a taxpayer is unable to pay the taxes due in a short period of time, an offer in compromise might be negotiated by a tax professional with the IRS. 

An offer is presented that provides the government with a sum of money -- often pennies on a dollar -- in full settlement of all tax debts owed.  The successful offer is calculated based upon the net assets of the taxpayer and the taxpayer's anticipated monthly cash flow over the next few years.

For more information on offer in compromise, click here.

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Offer in compromise
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Revised: October 02, 1997.